The marketing research organization, The Tokenist, recently published a report called “Comparing Public Bitcoin Adoption Rates in 2020 vs 2017.” The study’s findings provides a comprehensive check out the cryptocurrency ecosystem between 2017 and now. The researchers’ survey shows that since the post-Covid-19 economy is setting in, trust in bitcoin has grown 29% within the past three years.

Faith In Traditional Banks and Financial Incumbents Is Waning

A recently published study from the crypto think factory , The Tokenist, details that there’s a growing trust in bitcoin over traditional investments like gold, stocks, and land . The market researchers leveraged a survey that was taken in April 2020 (5,421 participants in 24 countries) and collated several surveys from 2017 also . The Tokenist utilized these polls to ascertain how attitudes and perceptions have changed since the worth fluctuations and therefore the impact of Covid-19.

“Faith in large financial institutions has been steadily waning for quite a decade and therefore the COVID-19 pandemic has only accelerated this process,” the report highlights. “Bitcoin, itself developed within the years after the 2008 market crash as an alternate to traditional assets, stands to be a serious beneficiary of this trend.”

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

47% of the Poll’s Respondents Trust Bitcoin Over Big Banks

The Tokenist also leveraged surveys from the company’s list and another that saw 4,852 participants in 17 countries. consistent with the study’s findings, The Tokenist researchers have found that there’s a trend of people with “positive sentiment regarding BTC as an extended term store useful .”

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

The findings note that over 45% of respondents preferred Bitcoin instead of stocks, land , and gold, and “61% of the entire respondents (and 78% of millennials) are now somewhat conversant in BTC, and 14% of millennials have owned the asset.” The report continued:

47% of respondents trust Bitcoin over big banks, a rise of 29% within the past three years. 43% of respondents, and 59% of millennials, feel that the majority people are going to be using Bitcoin within subsequent decade. In 2020, 44% of millennials report that they’re likely to shop for BTC within the next five years. quite one in three millennials would hold onto Bitcoin they’re given, while a rather smaller number (27%) would immediately sell it. 39% of male millennials now haven’t any problem with the intangible nature of BTC, and 1 / 4 of millennials as an entire report an equivalent attitude.

Covid-19 Economy Fuels Faith in Crypto: Trust In Bitcoin Over Banks Increased 3X Since 2017

The report finds that the attitude toward BTC, generally , is more positive and optimism has increased by 27% during the last three years. “60% of respondents felt that Bitcoin may be a positive innovation in financial technology,” The Tokenist’s report concludes. “Increased familiarity with Bitcoin has convinced many who it’s a positive force,” the paper’s authors added.


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